Corn Export Sales Plummet

Posted on 06/06/2019 7:39 AM

USDA Weekly Export Sales Report

Week Ended May 30, 2019

Corn

Actual Sales (in MT)

Combined: 14,700
2018-19: -8,800
2019-20: 23,500

Expectations (in MT)

2018-19: 500,00-800,000
2019-20: 50,000-250,000

Weekly Sales Details

Net sales reductions of 8,800 MT for 2018/2019 resulting in increases for New Zealand (33,200 MT, including 33,000 MT switched from unknown destinations), Japan (24,200 MT), Mexico (20,500 MT), Guatemala (13,000 MT, including 4,500 MT switched from El Salvador and 4,000 MT switched from Colombia), and Taiwan (5,500 MT, including decreases of 100 MT), were more than offset by reductions for Nicaragua (27,300 MT), Costa Rica (27,300 MT), unknown destinations (24,300 MT), and the Dominican Republic (22,000 MT).  For 2019/2020, net sales of 23,500 MT were for Mexico (10,300 MT), Canada (10,200 MT), and the French West Indies (3,000 MT).

Weekly Export Details

Exports of 770,000 MT were down 55 percent from the previous week and 35 percent from the prior 4-week average.  The destinations were primarily to Mexico (324,300 MT), Japan (218,200 MT), South Korea (59,100 MT), New Zealand (33,200 MT), and Guatemala (32,400 MT).

Comments and Performance Indicators

Export commitments are running 13% behind year-ago versus 11% behind 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.300 billion bu., down 5.7% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 475,900
2018-19: -26,000
2019-20: 501,900

Expectations (in MT)

2018-19: -100,000-200,000
2019-20: 100,000-400,000

Weekly Sales Details

Net sales reductions of 26,000 metric tons for delivery in the 2018/2019 were down noticeably from the previous week and from the prior 4-week average.  Increases were reported for the Congo (15,500 MT, switched from unknown destinations), Libera (8,800 MT, switched from unknown destinations), Mali (5,500 MT, switched from unknown destinations), Malaysia (4,600 MT, including decreases of 200 MT), and Iraq (2,500 MT).  Reductions were primarily for unknown destinations (73,000 MT), the Philippines (3,000 MT), Guatemala (3,000 MT), and South Korea (1,800 MT).  For 2019/2020, net sales of 501,900 MT were primarily for Taiwan (111,100 MT), Panama (89,500 MT), unknown destinations (81,000 MT), Mexico (68,200 MT), and Colombia (41,300 MT).

Weekly Export Details

Exports of 747,200 MT were up 72 percent from the previous week and 6 percent from the prior 4-week average.  The destinations were primarily to Malaysia (86,500 MT), Mexico (70,300 MT), Algeria (62,300 MT), Indonesia (59,300 MT), and the Philippines (57,000 MT).

Comments and Performance Indicators

Export commitments are running 9% ahead of year-ago versus 9% ahead of year-ago the week prior. USDA projects exports in 2018-19 at 925 million bu., up 2.7% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 583,700
2018-19: 510,000
2019-20: 73,700

Expectations (in MT)

2018-19: 200,000-500,000
2019-20: 50,000-250,000

Weekly Sales Details

Net sales of 510,000 MT for 2018/2019 were up 28 percent from the previous week and 86 percent from the prior 4-week average.  Increases were reported for unknown destinations (214,000 MT), China (72,300 MT, including 68,000 MT switched from unknown destinations and decreases of 1,400 MT), Germany (56,800 MT), the Netherlands (40,000 MT), and Mexico (31,300 MT, including decreases of 3,200 MT).  Reductions were reported for Malaysia (200 MT).  For 2019/2020, net sales of 73,700 MT were for Bangladesh (55,000 MT), unknown destinations (18,000 MT), and Japan (700 MT).

Weekly Export Details

Exports of 565,900 MT were up 37 percent from the previous week and 5 percent from the prior 4-week average.  The destinations were primarily to China (337,300 MT), Mexico (67,300 MT), Germany (56,800 MT), Japan (32,500 MT), and Indonesia (31,400 MT).

Comments and Performance Indicators

Export commitments are running 16% behind the 2017-18 marketing year compared with 17% behind year-ago the previous week. USDA projects exports in 2018-19 at 1.775 billion bu., down 16.6% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 112,900
2018-19: 110,800
2019-20: 2,100

Expectations

2018-19: 100,000-250,000
2019-20: 0-100,000

Weekly Sales Details

Net sales of 110,800 MT for 2018/2019 were down 40 percent from the previous week and 38 percent from the prior 4-week average. Increases were reported for the Philippines (42,900 MT), Ecuador (33,000 MT, including 30,000 MT switched from unknown destinations), Mexico (27,200 MT, including decreases of 1,000 MT), Canada (18,500 MT, including decreases of 500 MT), and Morocco (16,500 MT).  Reductions were primarily for unknown destinations (29,500 MT), Colombia (5,700 MT), and Jamaica (4,300 MT).  For 2019/2020, net sales of 2,100 MT were for the Dominican Republic (1,500 MT) and Canada (600 MT)

Weekly Export Details

Exports of 164,600 MT were down 32 percent from the previous week and 29 percent from the prior 4-week average.  The destinations were primarily to Ecuador (33,000 MT), Mexico (30,800 MT), the Philippines (26,500 MT), Colombia (22,800 MT), and Canada (14,700 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running steady with year-ago, compared with steady with year-ago the week before. USDA projects exports in 2018-19 to be down 2.2% from the previous marketing year.

Soyoil

Actual Sales (in MT)

2018-19: 15,400

Expectations

8,000-25,000

Weekly Sales Details

Net sales of 15,400 MT for 2018/2019 were down 56 percent from the previous week and 14 percent from the prior 4-week average.  Increases were reported for Guatemala (5,000 MT), Mexico (4,100 MT), the Dominican Republic (4,000 MT, including decreases of 1,600 MT), Canada (1,200 MT), and Honduras (1,100 MT). 

Weekly Export Details

Exports of 30,800 MT were up 63 percent from the previous week and 20 percent from the prior 4-week average.  The destinations were primarily to South Korea (18,000 MT), the Dominican Republic (5,500 MT), Guatemala (5,000 MT), and Mexico (1,500 MT).

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 15% behind year-ago, versus 15% behind year-ago the week prior. USDA projects exports in 2018-19 to be down 12.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 233,900
2018-19: 182,300
2019-20: 51,600

Weekly Sales Details

Net sales of 182,300 RB for 2018/2019 were down 37 percent from the previous week and 36 percent from the prior 4-week average.  Increases were reported for India (144,900 RB, including 6,400 RB switched from China and decreases of 300 RB), Bangladesh (14,100 RB, including decreases of 200 RB), Vietnam (11,700 RB, including 2,900 RB switched from China, 1,400 RB switched from South Korea, 400 RB switched from Japan, and decreases of 500 RB), Indonesia (8,500 RB, including 400 RB switched from Japan), and Turkey (6,100 RB, including decreases of 300 RB).  Reductions were primarily for China (9,000 RB), Mexico (4,100 RB), South Korea (1,500 RB), and Nicaragua (1,100 RB).  For 2019/2020, net sales of 51,600 RB reported for Mexico (34,800 RB), Bangladesh (8,000 RB), Peru (3,900 RB), Guatemala (3,100 RB), and Thailand (2,600 RB), were partially offset by reductions for Nicaragua (5,200 RB).

Weekly Export Details

Exports of 308,600 RB were down 25 percent from the previous week and 18 percent from the prior 4-week average.  Exports were primarily to Vietnam (66,000 RB), Turkey (59,300 RB), China (32,700 RB), India (29,800 RB), and Pakistan (28,400 RB). 

Comments and Performance Indicators

Export commitments for 2018-19 are running 8% behind year-ago, versus 7% behind the week prior. USDA forecasts total cotton exports to fall 6.9% to 14.75 million bales this marketing year.

Beef

Actual Sales (in MT)

2019: 16,700

Weekly Sales Details

Net sales of 16,700 MT reported for 2019 were down 23 percent from the previous week and from the prior 4-week average.  Increases were reported for South Korea (6,900 MT, including decreases of 500 MT), Japan (3,300 MT, including decreases of 300 MT), Taiwan (1,700 MT, including decreases of 100 MT), Mexico (1,500 MT, including decreases of 100 MT), and Hong Kong (1,500 MT, including decreases of 100 MT).

Weekly Export Details

Exports of 17,900 MT were up 32 percent from the previous week, but down 3 percent from the prior 4-week average.  The primary destinations were South Korea (5,800 MT), Japan (5,700 MT), Mexico (1,400 MT), Taiwan (1,400 MT), and Canada (1,100 MT).

Comments and Performance Indicators

Last week, sales totaled 21,700 MT. USDA projects 2019 exports to rise 0.5% from year-ago levels.

Pork

Actual Sales (in MT)

2019: 33,800

Weekly Sales Details

Net sales of 33,800 MT reported for 2019 were down 38 percent from the previous week, but up 1 percent from the prior 4-week average.  Increases were reported for China (17,400 MT), Mexico (6,200 MT), South Korea (3,400 MT), Japan (2,200 MT), and Chile (1,100 MT). 

Weekly Export Details

Exports of 22,200 MT were down 5 percent from the previous week and 9 percent from the prior 4-week average.  The primary destinations were Mexico (6,500 MT), China (3,300 MT), South Korea (3,100 MT), Japan (2,800 MT), and Canada (1,600 MT).

Comments and Performance Indicators

Sales totaled 54,700 MT in last week’s report. USDA projects exports in 2019 will rise 6.4% from year-ago.

 

 

 

 

 

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